SMA Solar Slides Most in Month in Frankfurt on Decline in Sales

SMA slid as much as 7.5 percent, the biggest intraday drop
since May 24, after saying by e-mail today that second-quarter
sales may be in a range of 240 million to 280 million euros
($370 million), compared with 429 million euros a year earlier.

The Niestetal-based producer of inverters used to convert
energy from solar panels into power that can be transmitted on a
grid plans to cut staffing to counter the slump. It’s in talks
with its works council on cuts above those announced in October,
spokeswoman Susanne Henkel said, confirming a Reuters report.